Last month, Redstar Gold (RGC.V) has released the assay results from its 2016 drill program which consisted of 7 drill holes for a total of just over 1,500 meters. This was just a short drill program to test the potential of the Shumagin breccia mineralization, and it looks like Redstar has been able to confirm its expectations.
Yes, the intervals were pretty short but that’s completely expected as the Shumagin zone has always been known as a narrow-vein high-grade zone. Intercepts of less than a meter aren’t surprising at all, and the average grade is also in line with the expectations as 0.9 meters at almost half an ounce of gold, 1.15 meters containing 11.3 g/t gold and 73 g/t silver, and 1.5 meters containing 17 g/t gold and 13 g/t silver are exactly the kind of grades we would be expecting (or perhaps even a bit better than our expectations).
The 2016 drill program has now tested a strike length of approximately 750 meters and at a depth of roughly 275 meters as well. According to CEO Ball, last year’s drill program has now confirmed the company’s structural models and geological interpretation. And to be really technical, the 50 meter phreatomagmatic breccia zone encountered in hole 19 (which was drilling the Shumagin Deep zone) is the thickest section of the so-called syn-hydrothermal eruption breccias that have ever been observed along the Shumagin gold zone (which contains numerous of these syn-hydrothermal breccias over a 9 kilometer strike length).